Leave Bitcoin in Exchange?

[asriloni]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

Leaving bitcoin in an exchange is not very recommended and it is better to leave bitcoin in desktop wallet and electrum is the best among others and highly recommended.

What a contradictory statement you got there.

By the way, leaving money in exchange is fine if the amount is small, otherwise if you have some amount of BTC which you consider as big enough for you, it's better to save it on your wallet.
an exchange rarely turn to be scam if their company is legal, but still, prevention better than a cure.

[soham]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

In the past,we have seen instances where the exchange was hacked and a lot of people had lost everything which was kept in the exchange account. So this is just a piece of suggestion from the victims of that hacking. It is not a very bad idea to leave your money in exchange wallet especially if you are a daily trader. If you move your bitcoin on a daily basis for trading, you will end up loosing a lot of money for the transaction fees.

So try to keep a minimum amount of bitcoin or any other crypto currency in the exchange wallet if you are a day trader. It will ensure that you will not miss an opportunity. However, if you are an part-time trader, then it is advisable to withdraw your money to your personal wallet like Electrum.  

[EmmanCryp]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

If you are using it for daily trading, you gotta leave it there and maybe move your capital to a private wallet for safer storage after you must have made reasonable profit

[angaper]

It is true that to keep your coins in an exchange is not a safe and recommended practice, however the amount you are holding in Payeer seems not so relevant to feel a special anguish for the possibility of losing it. $200 USD is something like 0.0025 btc, so you could take advantage of the fact that you have already invested it in an exchange to try to learn a little bit of trading and multiply your coins, because it seems an amount that anyone could afford to lose without affecting his financial situation or his future.

[magneto]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

The entire point of bitocin is that you do not need to trust one single entity to hold your funds for you. If you store your bitcoin with an exchange you are essentially still having to trust someone, and there is really no point of using bitcoin then.

Plus, using a light wallet such as electrum which you don't need to sync means that it's as convenient as storing your bitcoin on an exchange really.

Only difference is that you can't trade instantaneously but most exchanges only require 1 confirmation on the bitcoin network which is only 10 mins. It's worth the wait.

[notyours]

First of all what do you intend to do with bitcoins? Do you mind holding it only until every bitcoins cost $ 10,000? Because if you do it better then put that into a wallet where you control your private keys. You'll only be able to access if you hold your privatekeys and nobody unlocks it until they do not know your wallet private keys. So if you keep that long time hiding your bitcoins will not be lost

[Gintama214]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

I would recommend on moving it because you might loss all of your $200 in an instant if you don't think about the risks of it. If I were you, I would move it into my wallet and leave some couple dollars in for investment and move most of it in your account because the risks of that is really high because you have a lot of money in an exchange site and sometimes when they do maintenance they will steal your money and in an instant when they finish their maintenance your money is gone. You should always think about the safety of your bitcoin before earning that the number 1 rule in my opinion. 

[949miner]

No, if you are trading with that amount of bitcoin then maybe it is a good option to leave it in the exchange, but only if it is a trusted one.  But if you are using that exchange as a wallet, then you are running the risk of someday being scammed by that exchange and lost your bitcoins, so it is not a good option, but it depends on your necessities. Personally, i hold mine on different wallets, but the safest ones.

[crazydane]

I know this is primarily discussing leaving Bitcoin in an exchange, but what if you are holding a dozen coins on an exchange like Bittrex, let say with a combined value of $5,000.  Wouldn't it be a pain to setup 12 different wallets on your desktop or elsewhere and move these holdings there?

Are there online wallets that can accommodate a mixed portfolio, or do they all only work with a single coin?

[PETES]

Only leave as much money in an exchange as you can afford to lose.

And when you leave it you also take the consequences of losing it.
So instead of worrying just deposit your coins into exchange when you see the coins are doing great and start trading.
And after you trade immediately witdraw it and transfer it to your wallet that holds private key.
Better be safe than sorry.

[Naughty Princess]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

If you are using it for daily trading, you gotta leave it there and maybe move your capital to a private wallet for safer storage after you must have made reasonable profit

Agree. When doing trading, I leave the amount on the  exchanger but make sure that the exchanger can be trusted. Sometimes I keep active and watch the status until the exchange can get this make sure that the amount will not be scammed. I used to trade the amount that I need to buy things and the save the left amount in wallet that provides private key.

[Don Pedro Dinero]

I think the most secure wallet you can have is a Trezor. That being said, it is fine to have some funds in wallets, as long as you don’t have a lot of money in them and also if you think of having different cryptos that are not supported by Trezor and plan to do some trading.

You can also split your funds in different exchanges to spread the risk, as it is unlikely that they will be hacked at the same time.

[bitcoinjames6]

Definitely recommended to put in a wallet. Make sure to backup your private key

[Kakmakr]

$200 is not really a big amount, so it should not break the bank, if you lost it. < Depending on your financial status > I always keep a small amount on the exchanges to strike the iron, whilst it is hot. In some instances I missed opportunities to sell at very high prices, because I moved coins to cold storage and it took time to get it back on. < due to congested MemPool >

So you want some flesh in the game, when the price goes wild, but not too much to lose a bunch of money or Bitcoins, when these exchanges gets hacked. ^smile^

[hypersonic1]

Another way to look at whether you should keep your money in an exchange is if it is insured. Some are good for the entire balance of their customer base in USD. In such a case you can rest fairly easy even in the event of a major breach in security. Just understand that in such a case said exchange would go through a process that may take months before you see it again. In general if you are simply holding and not trading, put it in cold storage or put it to work through trusted lending or interest sites.

I like what some of the previousposter said about keeping a certain ammount liquid for those fast trades and unpredictable scenarios.

[nicosey]

I use exchanges like a checking account for day to day spending.  I accept the risk, but the amount is low so its fine and practical.

[skorupi17]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

Leaving Bitcoin or any type of cryptocurrency in an exchange or an online wallet or even in other third party is very risky. Very risky in a way that they can easily get your asset or someone might hack into their servers and get all the asset they manage, including yours. So it is best to keep your funds in a wallet where you control your private key. That way, your wallet will be secured.

[Herbert2020]

despite common belief which is being repeated to death, you are sometimes forced to keep bitcoin/money on exchanges. the correct suggestion is not to keep bitcoin there for more than necessary. because an exchange is used by a trader and as a trader you would want to have your funds ready or even in many cases to hold them in open orders like placing a buy order at a low price which you are expecting to be reached but not last. or placing stop loss orders and a lot of things like that.
but if you are not trading then you must move the funds out of exchange.

[cyberChevan]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

Yes, leaving your coins in an exchange in the worst thing to do. This is because they are not secured enough. The owner of the exchange can easily ran with your coins. Or some hackers hack into the site's server and take all the funds. The best way to keep your funds is to have them in a wallet where you control your private key. If you can store them in a hardware wallet, that is much better.

[pugman]

Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.

Do you recommend to me to move this bitcoin to a wallet like Electrum?

If you keep your coins like in exchanges like bittrex or poloniex or hitbtc or bitfinex etc you won't be having a problem. But it's always suggested that you keep your coins in a hard ware wallet for security purposes because exchanges might have be hacked or scam or something else, you cannot predict what will happen and when it will happen. So that's why hardware wallets are the best.